MeaTech 3D Ltd. (NASDAQ:MITC) saw a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 56,400 shares, a decrease of 47.1% from the August 15th total of 106,700 shares. Based on an average daily volume of 37,200 shares, the short-interest ratio is presently 1.5 days.
Hedge funds have recently added to or reduced their stakes in the company. Axiom Investment Management LLC bought a new stake in MeaTech 3D during the 1st quarter worth approximately $181,000. Renaissance Technologies LLC bought a new stake in MeaTech 3D during the 2nd quarter worth approximately $252,000. Jane Street Group LLC bought a new stake in MeaTech 3D during the 1st quarter worth approximately $415,000. Sabby Management LLC grew its position in MeaTech 3D by 19.2% during the 2nd quarter. Sabby Management LLC now owns 64,003 shares of the company’s stock worth $429,000 after acquiring an additional 10,308 shares during the last quarter. Finally, UBS Group AG bought a new stake in MeaTech 3D during the 1st quarter worth approximately $506,000. Institutional investors own 2.01% of the company’s stock.
Shares of MITC stock traded down $0.04 during trading hours on Friday, hitting $5.84. The company had a trading volume of 62,544 shares, compared to its average volume of 78,800. MeaTech 3D has a 12 month low of $4.81 and a 12 month high of $11.79. The stock’s fifty day moving average is $6.19.
MeaTech 3D Ltd., a technology company, focuses on the development and out-licensing of three-dimensional printing technology, biotechnology processes, and customizable manufacturing processes to food processing and food retail companies to manufacture proteins without animal slaughtering. The company engages in developing a three-dimensional bioprinter to deposit layers of differentiated stem cells, scaffolding, and cell nutrients in a three-dimensional form of structured cultured meat.
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